HMRC self-assessment taxpayers July payments can be deferred

HMRC has issued a Press Release reminding Self-Assessment taxpayers, that they can automatically defer their July 2020 payment on account.

Key points:

• Those struggling to find the funds to make their end of July payment on account can deferring their payment until 31 January 2021.
• The deferment is automatic. Therefore, all anyone needs to do take advantage of the government offer is to not make their July payment.
• Customers will not need to contact HMRC to defer their payment on account – they opt into the deferral by simply not paying their tax bill due by 31 July 2020.
• If no payment is received, HMRC will automatically update their systems to show payment has been deferred and no interest or penalties will be incurred, providing it is paid in full by 31 January 2021.
• The only action customers may need to take is to cancel their direct debit if they have one set up for their payments on account.
• If no payment is received, HMRC will automatically update their systems to show payment has been deferred and no interest or penalties will be incurred, providing it is paid in full by 31 January 2021.

Self Assessment payment on account for 2019 to 2020 is ordinarily due at the end of July, but the government previously announced it is supporting the self-employed and others by allowing them to defer this payment.

David Nunn is a former Content Manager at AAT.